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☆ In recent years, investors have poured billions into the burgeoning region of central and eastern Europe. Here's why they're so excited about this startup hotbed.
▼ + stars: | 2022-12-30 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +4 min

VCs have flocked to central and eastern European startups for their efficiency and technical talent. Central and eastern Europe includes countries like the Czech Republic, Hungary, Slovenia, Romania, Russia, and Ukraine, according to the World Atlas. The promise of central and eastern Europe starts with a surplus of strong engineering talent, Vaswani said. "Eastern Europe is the former Communist Bloc, and during communism, one of the dangerous things for the communist regimes were humanistic subjects," Bartos said. Additionally, central and eastern European startups are often more capital-efficient due to lower personnel and living costs, an advantage that founders like Jendruszak have leveraged firsthand.

☆ Retailers Pull Back From Using Chartered Cargo Ships
▼ + stars: | 2022-12-23 | by ( Paul Berger | ) www.wsj.com time to read: +5 min

Retailers are moving away from using chartered ships to get around pandemic-triggered disruptions now that congestion at ports has cleared and pressures in supply chains have eased. A representative for Home Depot said it stopped using chartered vessels earlier this year as space opened up in global shipping. Party City started booking space on chartered vessels in mid-2021 in advance of Halloween, its busiest time of year, said Bruce Dzinski, Party City’s director of international transportation. Will Harwood, a spokesman for Lidl, said Tailwind owns two container ships and can carry additional cargo on other chartered vessels. Most other companies, like Home Depot and Costco, relied on third-party companies to operate chartered ships.

☆ A map shows the most popular Christmas dishes around the world
▼ + stars: | 2022-12-22 | by ( Monica Pitrelli | ) www.cnbc.com time to read: +5 min

To see who's eating what this weekend, the culinary website Chef's Pencil created a map showing what it says are the most popular Christmas dishes around the world. Those headed to parts of South America can too — the map shows turkey is a top Christmas food in Brazil, Chile and Peru. Source: Chef's PencilItalians traditionally eat veal, while Rwandans grill both beef and goat for Christmas, the map shows. Carp, a freshwater fish, is popular in Central and Eastern Europe, while saltwater cod tops holiday menus in Italy and Portugal, the map shows. In a post about Christmas in Portugal, the travel website Portuguese for a Day states, "Christmas is not Christmas without codfish on the table!"

☆ Pope denounces psychological abuse as Jesuit case rocks Church
▼ + stars: | 2022-12-22 | by ( Philip Pullella | ) www.reuters.com time to read: +2 min

VATICAN CITY, Dec 22 (Reuters) - Pope Francis on Thursday denounced psychological violence and abuse of power in the Church, as the case of a prominent priest accused of exploiting his authority to sexually abuse nuns has rocked the Vatican. The 86-year-old pope made his comments in his annual Christmas address to cardinals, bishops and other members of the Curia, the central administration of the Vatican. Francis has often used the occasion to decry perceived flaws in the top bureaucracy, such as gossip, cliques and infighting. After mentioning wars, the pope said: "Besides the violence of arms, there is also verbal violence, psychological violence, the violence of the abuse of power, the hidden violence of gossip." He added that no one should "profit from his or her position and role in order to demean others".

☆ Thai king's hospitalised daughter stable 'at a certain level' - royal palace
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +2 min

BANGKOK, Dec 19 (Reuters) - The eldest child of Thai King Maha Vajiralongkorn is in a stable condition "at a certain level", with doctors using medication and equipment to support her lung, heart and kidney functions after she suffered a heart problem, the palace said on Monday. The princess was taken ill and lost consciousness on Wednesday while preparing her dogs for a competition in northeastern Nakhon Ratchasima province, the palace said. Princess Bajrakitiyabha is one of three children of King Vajiralongkorn who have formal titles, making her eligible for the throne under a palace succession law and the country's constitution. In its statement, the palace said her "condition is stable at a certain level" and her heartbeat was being controlled by medicine, but her heart contraction was still weak. The princess was born on Dec. 7, 1978 as the daughter of the king and his first wife, Princess Soamsawali.

☆ Jesuit abuse case widens as victim speaks, order seeks witnesses
▼ + stars: | 2022-12-19 | by ( Philip Pullella | ) www.reuters.com time to read: +3 min

Rupnik is at the centre of scandal that has engulfed the Jesuits, a Catholic order of priests and brothers, of which Pope Francis is a member. Some top Jesuits have called for a full review of how the order and the Vatican have handled the case. It said it had commissioned an unnamed non-Jesuit to investigate Rupnik, 68, after the Vatican received a complaint last year. The Jesuits gave the results to the Vatican doctrinal department, which closed the case in October, citing the statute of limitations. On Dec. 7, Jesuit leader Father Arturo Sosa said nothing had been hidden, but later contradicted himself.

☆ Payments company Wise suspends Ghana cedi transfers amid volatility
▼ + stars: | 2022-12-16 | by ( Cooper Inveen | ) www.reuters.com time to read: +2 min

ACCRA, Dec 16 (Reuters) - Cross-border payments company Wise (WISEa.L) has suspended transfers in Ghana's cedi currency after a rapid appreciation against the dollar this week made it costlier to move money to the West African country, a Wise spokesperson told Reuters on Friday. Ghana, once considered a rising star among emerging market economies, is today facing a generational debt crisis. A spokesperson for London-based Wise said that cedi functions, which were suspended Thursday, would be restored "as soon as the situation has stabilised" and that only a small number of transfers were affected. "That said... we’ve seen the central bank buy dollars from the open market to shore up its reserves," Akoto said. Reporting by Cooper Inveen; Additional reporting by Rodrigo Campos; Editing by Louise Heavens and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

☆ Eldest daughter of Thai king hospitalised with heart problem - palace
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +2 min

[1/4] Thailand's Princess Bajrakitiyabha greets her royalists as she leaves a religious ceremony to commemorate the death of King Chulalongkorn, known as King Rama V, at The Grand Palace in Bangkok, Thailand, October 23, 2020. REUTERS/Athit Perawongmetha/File PhotoBANGKOK, Dec 15 (Reuters) - The eldest child of Thai King Maha Vajiralongkorn has been hospitalised due to a heart problem and her condition has stabilised to a certain level, the royal palace said on Thursday. She was flown by helicopter to Bangkok after her condition stabilised at a certain level, the palace said in a statement, without elaborating. The princess is one of three children of King Vajiralongkorn who have formal titles, making her eligible for the throne under a 1924 Palace Law of Succession and the country's constitution. King Vajiralongkorn has yet to formally designate an heir since becoming king in 2016 and there has been no official discussion on the prospect of the princess taking the throne.

☆ From bloody Balkan war to World Cup heavyweight: the making of Croatia as a soccer nation
▼ + stars: | 2022-12-12 | by ( Ben Morse | ) edition.cnn.com time to read: +12 min

Croatia’s World Cup pedigree is an altogether different story. Štimac challenges Clarence Seedorf of the Netherlands during the 1998 World Cup third place playoff match, which Croatia won 2-1. The Croatia players celebrate a goal against France in the 1998 World Cup semifinals. Having been appointed after the team’s qualification for the 2018 World Cup, Dalić came with pressure on his shoulders. Antonio Bronic/Reuters“There is no place in the national team dressing room of Croatia for big egos, and everyone knows that.

☆ EU at odds over gas price cap as 12 countries criticise latest proposal
▼ + stars: | 2022-12-10 | by ( Kate Abnett | ) www.reuters.com time to read: +2 min

EU countries are holding emergency negotiations on Saturday as they attempt to line up a deal to cap gas prices at a Dec. 13 meeting of their energy ministers - but states remain split over the plan. Twelve of the EU's 27 member states have circulated a paper demanding that the price cap be "significantly" lower than the latest compromise being negotiated by countries. EU countries have wrangled for months over whether to cap gas prices, but have so far failed to bridge the gap between their divergent views. Gas prices in Europe have soared this year after Russia slashed gas deliveries following its invasion of Ukraine, pushing up fuel costs and stoking inflation. That is lower than the 275 eur/MWh limit proposed by the |European Commission, but the 12 countries said it was still not low enough.

☆ Some banks may struggle to pay back ECB loans, says EU watchdog
▼ + stars: | 2022-12-09 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

LONDON, Dec 9 (Reuters) - Some banks in the euro zone could struggle to pay back money borrowed from the European Central Bank as volatile markets make it harder to raise funds, the European Union's banking watchdog said on Friday. "Banks must repay substantial amounts of central bank loans until 2024. A number of banks will be able to rely on existing liquidity buffers – including central bank deposits – to pay back central bank loans," the European Banking Authority said in a report on banking risks in the 12 months to June 2022. It remains to be seen how costly replacing central bank funding will be," EBA said. Meeting separate minimum requirements for issuing debt that can be written down in a crisis could also prove a challenge for some banks, EBA said.

☆ Euro zone economic growth revised up with household, business support
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

BRUSSELS, Dec 7 (Reuters) - Euro zone gross domestic product (GDP) grew by slightly more than initially estimated, data from the European statistics agency Eurostat showed on Wednesday, with household spending and business investment propping up the economy. Eurostat said GDP growth in the third quarter was 0.3% in the 19-country euro area in the July-September period from the previous quarter and 2.3% year-on-year, above its flash estimates of 0.2% and 2.1% published in mid-November. Household spending added 0.4 percentage points to euro zone growth and gross fixed capital formation 0.8 points. The contribution from government expenditure was negligible, while trade was a net negative of 1.1 percentage points. Employment levels also expanded in the euro zone by 0.3% quarter-on-quarter, the same pace as in the second quarter of 2022.

☆ The easiest way to travel full time? See what a 28-year-old paid for an apartment on a cruise ship
▼ + stars: | 2022-12-07 | by ( Lucy Handley | ) www.cnbc.com time to read: +8 min

The MV Narrative is now under construction in Split, Croatia, from where it will set sail in 2025. The MV Narrative, the first cruise ship from operator Storylines, is scheduled to set sail from Croatia in 2025. A computer-generated image of the bathroom in a "Global" penthouse residence on board the MV Narrative cruise ship. A rendering of a residents' lounge on board the MV Narrative cruise ship, which is expected to carry around 1,000 passengers. A computer rendering of the living quarters of an "Envision" residence on board the MV Narrative cruise ship.

☆ EU countries to consider lower gas price cap - documents
▼ + stars: | 2022-12-02 | by ( Kate Abnett | ) www.reuters.com time to read: +3 min

BRUSSELS, Dec 2 (Reuters) - European Union countries will consider on Friday a proposal for a gas price cap slightly lower than a Brussels proposal that some view as too high, with a handful of countries pushing for an even lower limit, documents seen by Reuters showed. European Union countries start negotiations on Friday evening on the European Commission's proposal for a cap to limit gas price spikes, and are racing to reach a deal by Dec. 13. The Commission last week proposed a gas price cap that would kick in if the front-month Title Transfer Facility (TTF) gas price exceeded 275 euros ($289) per megawatt-hour for two weeks and was 58 euros higher than a liquefied natural gas reference price for 10 days. But countries still disagree on whether to cap prices at all, while at least five countries are pushing for an even lower cap. In a document shared with other EU member states this week, Italy, Poland, Greece, Belgium and Slovenia proposed two options: either a far lower fixed price cap of 160 euros/MWh, or a "dynamic price cap" that could fluctuate in response to existing liquefied natural gas price benchmarks.

After explosions - whose cause is under investigation - damaged the Nord Stream Russian gas pipeline system to Europe under the Baltic Sea, Putin in October proposed setting up a gas hub in Turkey, building on a southern route for exports. "Does Europe need the project, given the determination of the EU countries to forego Russian gas in the nearest future?" A source in Russia's pipeline gas exporting monopoly Gazprom (GAZP.MM) said be believed the hub would facilitate sales. "That will not be Russian gas, but gas from the hub," said the source, who did not want to be named due to the sensitivity of the matter. Neither Gazprom, nor the Kremlin provided a cost estimate for the Turkish hub idea.

The United States and England fought to a goal-less draw in Qatar on Friday night, as America kept hope alive for advancing to World Cup knockout action. A well organized U.S. team pressed well and frustrated England and could feel disappointed in the end after creating the better chances in the game. Then the United States escaped with a 1-1 draw against the Three Lions, in South Africa, in 2010. That point proved crucial to the United States in 2010, as Landon Donovan scored a famous stoppage-time winner in his team's final group match against Algeria. The U.S. match against Iran is set to kickoff at Tuesday at 2 p.m. EST at Al-Thumama Stadium.

☆ Vatican court hears cardinal's secretly taped phone call with pope
▼ + stars: | 2022-11-24 | by ( Philip Pullella | ) www.reuters.com time to read: +3 min

Vatican Media/Handout via REUTERS/File PhotoVATICAN CITY, Nov 24 (Reuters) - A court at a Vatican corruption trial on Thursday heard a secretly recorded telephone call between the main defendant, embattled Cardinal Angelo Becciu, and Pope Francis. The money was sent to a company she had set up in Slovenia and she received some in cash, the court has been told. He told the court how he was ordered to make payments he considered unusual. The trial revolves around the purchase of a building in London by the Secretariat of State. The 10 defendants include former Vatican employees and Italian middle men who the prosecution says extorted the Vatican.

☆ Russia's Sberbank files lawsuits over restrictions on European units
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies This content was produced in Russia, where the law restricts coverage of Russian military operations in UkraineMOSCOW, Nov 21 (Reuters) - Russia's largest lender, Sberbank (SBER.MM), has filed lawsuits challenging decisions by the European Commission and Single Resolution Board (SRB) to impose restrictions over some of its European operations. Sberbank Europe AG, based in Vienna, was closed in March by order of the European Central Bank (ECB), which cited the risk of imminent failure resulting from the bank's economic difficulties and the potential for a run on deposits after Russia sent tens of thousands of troops into Ukraine. The SRB, which was set up to limit the cost to taxpayers from failing banks, on March 1 adopted resolution schemes with respect to Sberbank Europe's subsidiaries in Croatia and Slovenia, ruling that shares be transferred to a buyer, citing risks to the financial stability of the two countries. Sberbank did not immediately respond to a request for comment on the lawsuits, which were brought on Aug. 22, filings published by the European Union showed on Monday. Reporting by Elena Fabrichnaya and Alexander Marrow Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Luka Doncic: NBA superstar prefers chess to Twitter
▼ + stars: | 2022-11-17 | by ( Ben Morse | ) edition.cnn.com time to read: +2 min

“I just play chess on my phone,” said the Dallas Mavericks star. After his game-winning performance against the Boston Celtics in February 2021, Doncic was asked how he chooses how to dissect a defense. “It’s like playing chess: you’ve got to take your time and see the moves,” he told TNT after his 31-point performance. A quick scroll through Doncic’s blue tick verified Twitter account sees him celebrating the first basketball court built in Europe by an NBA team – his Mavericks team built a court in his homeland of Slovenia. The 26-year-old looks to be devoted sneakerhead, as he thanks on Twitter many of the shoemakers and sponsors he’s had in recent weeks.

☆ Slovenia's election may produce first woman president
▼ + stars: | 2022-11-13 | by ( Katja Lihtenvalner | ) www.reuters.com time to read: +2 min

LJUBLJANA, Nov 13 (Reuters) - Slovenians were voting on Sunday in a presidential election runoff, with former TV presenter Natasa Pirc Musar hoping to beat right-wing politician Andze Logar and become the country's first woman president. Although the role is mostly ceremonial, the president heads the army and also nominates several top officials, including the central bank governor. An opinion poll conducted by the Ninamedia agency published in the daily Dnevnik on Friday showed Pirc Musar winning 51.2% of the votes, with Logar taking 48.8%. "I expect the next president to care about us, the citizens, to represent Slovenia in a good manner," Uros Pinter said after casting his ballot in Ljubljana. Pirc Musar, 54, a former TV presenter who is now an influential lawyer, campaigned on human rights, the rule of law and social welfare issues.

☆ ECB will likely need to raise rates to level that curbs growth-Schnabel
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

LJUBLJANA, Nov 10 (Reuters) - The European Central Bank will probably need to raise interest rates to a level that weakens growth to curb high inflation that is at a growing risk of taking hold in the euro zone, ECB board member Isabel Schnabel said on Thursday. With euro zone inflation running in double digits, the ECB has been raising rates at a record pace even as the euro zone economy heads for recession. read moreBut Schnabel, the leader among ECB hawks who favour higher borrowing costs, said the central bank should press ahead, likely reaching "restrictive territory", or a level of rates that curbs economic growth. "We will need to raise rates further, probably into restrictive territory." "This is currently unlikely, not least due to the robust labour market, large excess savings and the massive fiscal support."

☆ Seven feared dead in helicopter crash in southern Italy, police say
▼ + stars: | 2022-11-05 | by ( ) www.reuters.com time to read: +1 min

MILAN, Nov 5 (Reuters) - A helicopter flying from Italy's Tremiti islands to the mainland crashed on Saturday some 50 kilometres from the city of Foggia, in the southern-east region of Apulia, police said, adding seven people were feared dead in the accident. A spokeswoman for the police's office in Foggia told Reuters that weather conditions were bad but added that the cause of the accident was still unknown. Police were working to reach the site, the spokeswoman said, adding that the nationalities of the victims were not clear at the moment. "On board the helicopter were seven people who all lost their lives. Reporting by Francesca Landini; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ My 'glamorous' van life involved a lot of sacrifices. Here's how I built it and what it's like working on the road.
▼ + stars: | 2022-11-02 | by ( Jen Glantz | ) www.businessinsider.com time to read: +7 min

Mariah Arianna, 30, lives and works out of a van with her partner as a digital nomad. Arianna says even though van life appears glamorous, the lifestyle requires a lot of sacrifices. I was enamored with living life anywhere but home. I was working with a lot of clients in Frankfurt and was able to get a long-term work visa to stay in the country. I usually work in small coffee shops, local libraries, or inside our van, which is very bright and open.

☆ 22 candidates have together pumped more than $435 million (and counting) of their own money into 2022 midterm races
▼ + stars: | 2022-11-02 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +2 min

Together, 22 self-funding candidates have spent more than the GDP of some small countries. JB Pritzker, a hotel heir, easily leads the group, followed by US Senate candidate Mehmet Oz. A hotel heir, a former TV doctor, a construction magnate, a former US ambassador, and the sons of two top-tier professional sports owners. Put another way: self-funding candidates have spent more money than the nation of Palau's most recent GDP or just enough to buy Colorado's Major League Soccer team. An heir to the Hyatt hotel fortune, the incumbent Democrat has spent over $152 million on his 2022 reelection campaign alone.

☆ The 32 countries around the world where same-sex marriage is legal
▼ + stars: | 2022-10-31 | by ( Rosie Perper | Erin Snodgrass | ) www.businessinsider.com time to read: +1 min

There are currently 32 countries that allow same-sex couples to marry. Most countries have legalized same-sex marriage via legislation, but some were through court decisions. People fighting for same-sex marriage rights around the world have seen global support increase in recent years. Australia, Malta, and Germany legalized same-sex marriage in 2017, and Taiwan made history in 2019, becoming the first government in Asia to welcome legislation on marriage equality. There are currently only 32 countries that allow same-sex couples to marry.

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